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Dec 20, 2013

University of California need not disclose venture returns: court

SAN FRANCISCO (Reuters) – The University of California is under no obligation to obtain and disclose information on the investment performance of venture capital funds in its portfolio, a California court ruled Thursday in a decision that could broadly affect how public-records laws are interpreted.

The suit, filed last year in California state court in Oakland by Reuters America, a unit of Thomson Reuters Corp, argued that the state Public Records Act requires disclosure of investment-return information for the university system’s $11.23 billion endowment fund.

Dec 12, 2013

High-profile venture capitalists cut back roles at Accel Partners

SAN FRANCISCO, Dec 12 (Reuters) – Two of Silicon Valley’s
most respected venture capitalists are cutting back their roles
at Accel Partners, the big-name firm best known for its early
investment in Facebook.

Kevin Efrusy, who as a junior partner had brought Facebook
to the attention of Accel, said he will not be a managing member
of the firm’s next venture fund. Accel’s investors expect the
firm to raise more capital early in 2014.

Dec 10, 2013

Google bus blocked in San Francisco gentrification protest

SAN FRANCISCO, Dec 9 (Reuters) – A Google Inc
commuter bus was blocked in San Francisco’s Mission district for
about a half hour Monday morning, highlighting many residents’
growing concern that an influx of affluent technology workers is
driving up costs in the city.

“San Francisco, not for sale” and “Stop evictions now”
numbered among the slogans yellow-vested protesters chanted as
they surrounded the double-decker bus. Google’s offices are in
Mountain View, about 34 miles away from the incident.

Dec 9, 2013

Google bus blocked in San Francisco protest vs gentrification

SAN FRANCISCO (Reuters) – A Google Inc commuter bus was blocked in San Francisco’s Mission district for about a half hour Monday morning, highlighting many residents’ growing concern that an influx of affluent technology workers is driving up costs in the city.

“San Francisco, not for sale” and “Stop evictions now” numbered among the slogans yellow-vested protesters chanted as they surrounded the double-decker bus. Google’s offices are in Mountain View, about 34 miles away from the incident.

Dec 6, 2013

Insight: Tech start-ups show little imagination on board gender diversity

SAN FRANCISCO (Reuters) – At Pinterest, the online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company’s board of directors is 100 percent male.

Male-heavy boards dominate in the start-up mecca of Silicon Valley, which prides itself on progressive thinking and putting talent first. A Reuters survey of the 10 top venture-backed start-ups, as measured by venture funds raised, shows that six do not have any women on the board, including Pinterest. And none has more than one.

Dec 6, 2013

Tech start-ups show little imagination on board gender diversity

SAN FRANCISCO, Dec 6 (Reuters) – At Pinterest, the online
bulletin board service that is valued near $3.8 billion, some 70
percent of the users are female. But the company’s board of
directors is 100 percent male.

Male-heavy boards dominate in the start-up mecca of Silicon
Valley, which prides itself on progressive thinking and putting
talent first. A Reuters survey of the 10 top venture-backed
start-ups, as measured by venture funds raised, shows that six
do not have any women on the board, including Pinterest. And
none has more than one.

Dec 5, 2013

Jobs site Glassdoor raises $50 million from Tiger Global

SAN FRANCISCO, Dec 5 (Reuters) – Jobs and career site
Glassdoor said it has raised $50 million from a group led by
Tiger Global, marking a year where the New York-based investment
firm has dramatically stepped up its presence in Silicon Valley.

Glassdoor, based just north of San Francisco in Sausalito,
California, announced the new funding on Thursday. It runs a
user-generated database about companies with employee comments
and information on salaries and interviews, and has become a
leading recruiting platform.

Nov 20, 2013

Tim Draper to cut back role at Draper Fisher Jurvetson

SAN FRANCISCO, Nov 19 (Reuters) – Venture capitalist Tim
Draper is stepping back from his investment role at Draper
Fisher Jurvetson, the firm he founded in 1985.

Long considered venture-capital royalty, Draper is known for
investments such as Internet phone service Skype, now part of
Microsoft Corp, and Chinese Internet company Baidu Inc
.

Nov 14, 2013

Redfin raises $50 million from Tiger Global, T. Rowe Price

SAN FRANCISCO, Nov 13 (Reuters) – Online real estate company
Redfin said it has raised $50 million from investment companies
Tiger Global Management and T. Rowe Price Associates, making it
the latest venture capital-backed company to look to
nontraditional backers for venture funding.

The Seattle-based company, which announced the new funding
on Wednesday, aims to cut costs to homebuyers by awarding to
them a portion of real-estate fees that agents traditionally are
paid by homesellers. If representing the sellers, it cuts fees
charged to them. But it has struggled to win significant market
share in the 22 cities where it operates.

Nov 12, 2013

Pinterest investor FirstMark, Rovio investor Atomico raise funds

SAN FRANCISCO (Reuters) – New York-based venture firm FirstMark Capital and London-based Atomico each raised new funds, capitalizing on their success in early-stage technology investing.

FirstMark Capital raised $225 million new venture fund, its third, less than a year after raising another fund of the same size, it said in a release on Tuesday. It has become known for investments in hot start-ups including Pinterest, the online bulletin board that is valued at more than $2.5 billion.